Account Recovery

AUGUST 27, 2024

A recent field note from the Federal Reserve Bank of Boston reveals that, despite a significant drop in inflation, 59% of U.S. adults surveyed in May are still highly concerned about future price increases. This concern persists even though the inflation rate decreased from a peak of 9% in June 2022 to about 3% by June 2023. As inflation rates have gradually declined over the past two years, households remain significantly concerned about rising prices, with many turning to credit cards and loan

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Credit Card Debt Loans Banks 246

Enterprise Recovery

AUGUST 30, 2024

A business credit score is crucial for your company's financial health and reputation. It reflects your ability to manage credit responsibly and can impact your ability to secure financing, negotiate favorable terms with suppliers, and attract potential business partners. A strong business credit score demonstrates your reliability as a borrower and opens up opportunities for growth and expansion.

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Consumer Finance

AUGUST 26, 2024

The CFPB published a new report finding Americans are paying tens of millions of dollars in fees to access their own money when getting “cash back” at large retail stores when making a purchase with a debit or prepaid card.

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Retail Banks 126

The Kaplan Group

AUGUST 28, 2024

Student debt has become a significant financial burden, growing faster than any other form of debt for many individuals in the United States. A new study by The Kaplan Group aims to provide an overview of student debt across various states and majors, highlighting the top and bottom states in terms of average debt, the prevalence of high debt amounts, and the total debt by state.

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Debtor Education Collections 78

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Account Recovery

AUGUST 30, 2024

The Consumer Financial Protection Bureau yesterday announced a $2.25 million civil penalty against New Day Financial for deceiving veterans and active-duty servicemembers in connection with cash-out refinance loans. This action comes after the CFPB found that the lender provided misleading cost comparisons to borrowers in North Carolina, Maine, and Minnesota, falsely making its loans appear less expensive than they were.

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Lender Loans 230

Consumer Finance

AUGUST 28, 2024

The CFPB took action against repeat offender New Day Financial (NewDay USA) for deceiving active duty servicemembers and veterans seeking cash-out refinance loans.

Loans 115

Loans Financial services 115

JMA

AUGUST 29, 2024

Establishing clear and effective terms of trade is crucial for any businesses in Australia, especially those engaging in international trade. Whether dealing with local clients or trading partners in other countries, well-defined terms can prevent payment issues and ensure smooth transactions. In this guide, we’ll explore how to set up terms of trade that not.

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Trade 52

Account Recovery

AUGUST 30, 2024

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!

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Collections Fair Debt Collection Debt collector 130

Collections Law

AUGUST 27, 2024

At Law Offices of Alan M. Cohen & Associates LLC, our experienced and innovative commercial collections attorneys are relentless and aggressive when it comes to collecting unpaid debts. Often, finding the money to collect becomes the biggest piece of the puzzle. With more than 50 years of combined experience, our commercial collections lawyers have an intricate understanding of Massachusetts collections laws and have learned several ethical tactics that can help you get paid.

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Commercial Collection Collections Debtor Banks 52

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

Banks

Consumer Finance

AUGUST 27, 2024

Gaming marketplaces increasingly mirror banking and payment systems but use design tricks to encourage spending, and our children are often the primary audience. Here are steps to help protect your family.

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Banks 87

JMA

AUGUST 29, 2024

In the fast-paced world of small business, ensuring steady cash flow is crucial for growth and stability. However, one of the most common challenges business owners face is dealing with late payments from clients. This can severely impact the financial health of the business, with the root cause often lying in misunderstandings or miscommunications about.

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Education 52

Account Recovery

AUGUST 30, 2024

In a case that was defended by the team at Martin Golden Lyons Watts Morgan, a District Court judge in Oklahoma has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling the defendant did not violate the statute when it contacted the plaintiff and left a voicemail at roughly the same time of day that the plaintiff had previously indicated that it wasn’t “a good time to talk.” The background: The plaintiff received a call from the defend

Fair Debt Collection 130

Fair Debt Collection Collections Financial services 130

FFGN COLLECT NY

AUGUST 26, 2024

How do you get paid when you’ve won your New York debt collection case and have a money judgment? One way could be through a NYC marshal’s sale. Your debt collection lawyer may recommend involving the marshal to help collect. The marshal gets involved after the issuance of a property execution. The city marshal will levy the debtor’s commercial property, bank accounts, and other assets.

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Judgment Debtor Creditors Lender 52

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Collection Agencies

Collection Industry News

AUGUST 30, 2024

A Collection Agency means a person who engages directly or indirectly in the business of collecting for, or soliciting from another, a consumer claim; or collecting a consumer claim the person owns, if the claim was in default when the person acquired it. A collection agency also includes a person who gives, sells, attempts to give or sell to another, or uses, for collection of a consumer claim, a series or system of forms or letters that indicates directly or indirectly that a person other than

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Collection Agencies Collections Agency Collections Trade 40

BN Lawyers

AUGUST 29, 2024

Here’s the latest risk management guidance, published in July 2024, from B&N’s Attorneys Risk Management practice group. BN – Tip of the Month – ABA Issues Formal Opinion 512 on Generative AI-related Ethics Issues – July 2024 The post Barron & Newburger’s Latest Risk Management Guidance appeared first on Barron & Newburger, P.C.

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Account Recovery

AUGUST 30, 2024

California is poised to become the eighth state to ban medical debt from appearing on credit reports, pending Gov. Gavin Newsom’s signature. Both houses of the state legislature have passed SB 1061, although there were some amendments, to the disappointment of the bill’s sponsor, that changed how medical debt is defined under the proposal.

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Lender Loans Collections Healthcare 130

Account Recovery

AUGUST 30, 2024

Suit Accuses CRAs, Collection Operation of Not Investigating Dispute on Three Occasions Judge Grants MTD in FDCPA Case Over Whether ‘Not a Good Time to Talk’ Made Future Calls Inconvenient California Legislature Sends Medical Debt Credit Reporting Bill to Governor for Approval CFPB Fines Lender $2.25M for Misleading Veterans on Loan Costs WORTH NOTING: This weekend, sleep in.

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Collections Lender Loans 130

Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.

Account Recovery

AUGUST 29, 2024

Getting to Know Christopher Wilkerson of Service Corporation International Appeals Court Affirms Attorney Fee Award for Plaintiffs in FCRA Case Over Defendant’s ‘Burdensome’ Subpoena More Consumers Prefer Digital Payment Options for Bills, But are Wary of Debt Collectors: Report Supreme Court Opts Not Intervene in Latest Student Loan Forgiveness Attempt WORTH NOTING: How swing states came to be so influential in presidential politics … Would love to know the backstory to what’s going

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Student Loans Student loans Debt collector Loans 130

Account Recovery

AUGUST 29, 2024

I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de

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Government Collections 130

Account Recovery

AUGUST 29, 2024

The Court of Appeals for the Eighth Circuit has affirmed a lower court’s ruling awarding $93,243.50 in attorney fees and costs to the plaintiffs in a Fair Credit Reporting Act suit, arguing the defendant went too far with its discovery requests and for not taking reasonable steps to reduce the burden on the plaintiffs. The background: A married couple learned that the defendant was reporting an automobile loan on their credit report as being discharged in bankruptcy, which was not true.

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Law Firms Bankruptcy Loans 130

Account Recovery

AUGUST 29, 2024

Digital payment preferences are rapidly increasing among U.S. consumers, offering both opportunities and challenges for professionals in the credit and collection industry, according to the results of a report released this week by ACI Speedpay. With more than three-quarters of Americans now opting to pay their bills digitally, this shift is particularly pronounced among younger generations, such as Gen Z and Millennials, who favor mobile payment channels through apps and digital wallets like Ap

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Debt collector Collections 130

Speaker: Genevieve Hancock, CPA

Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?

Financial services

Account Recovery

AUGUST 28, 2024

A District Court judge in California has granted a defendant’s motion to dismiss a Fair Credit Reporting Act lawsuit, ruling that the plaintiffs failed to establish the necessary elements to proceed with their claims after accusing the defendant of inaccurately reported delinquent payments on a loan used to purchase a recreational vehicle (RV), which led to negative marks on the plaintiffs’ credit reports.

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Trade Loans 130

Account Recovery

AUGUST 28, 2024

Consumers are paying “tens of millions” of dollars in fees to “access their own money” when getting cash back at retail operations, according to a report released yesterday by the Consumer Financial Protection Bureau. The CFPB estimates that three retailers are making as much $90 million in cash back fees, and that companies are significantly marking up the margin between what it costs them to process the transaction and what they are charging consumers.

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Retail Banks 130

Account Recovery

AUGUST 28, 2024

In the credit and collection industry, the ability to process payments seamlessly and securely is critical. Payment vaulting, the secure storage of customer payment credentials, is emerging as a powerful tool not only for enhancing security but also for improving customer retention, reducing operational costs, and delivering personalized service. By the numbers: The eCommerce sector experienced a failure rate exceeding 10% for online transactions in the past year, resulting in $31 billion in los

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Retail Collections 130

Account Recovery

AUGUST 28, 2024

LEHI, Utah–Weave, a leading all-in-one experience platform for small and medium-sized healthcare practices, announced Payment Reminders, an enhancement designed to help improve revenue cycle management. This new feature allows practices to continue to collect more outstanding balances, but now with less effort by enabling practices to turn each Weave payment invoice or Text to Pay request into a “set-it-and-forget-it” collection campaign.

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